NEOS Investment Management LLC Grows Position in Atlassian Co. (NASDAQ:TEAM)

NEOS Investment Management LLC raised its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,699 shares of the technology company's stock after acquiring an additional 1,615 shares during the quarter. NEOS Investment Management LLC's holdings in Atlassian were worth $2,604,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Atlassian by 760.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company's stock worth $110,972,000 after acquiring an additional 617,566 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company's stock valued at $159,382,000 after acquiring an additional 551,500 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Atlassian by 12,047.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company's stock valued at $55,521,000 after acquiring an additional 226,246 shares during the last quarter. Finally, Fisher Funds Management LTD acquired a new stake in shares of Atlassian during the 4th quarter worth about $47,469,000. Institutional investors and hedge funds own 94.45% of the company's stock.

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Insider Activity

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the transaction, the chief executive officer now owns 429,192 shares of the company's stock, valued at $104,529,711.60. The trade was a 3.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the completion of the sale, the director now directly owns 389,452 shares in the company, valued at approximately $98,535,250.52. The trade was a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 255,085 shares of company stock worth $68,681,246. Company insiders own 38.55% of the company's stock.

Analyst Ratings Changes

TEAM has been the topic of several recent analyst reports. StockNews.com upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Macquarie increased their target price on shares of Atlassian from $290.00 to $317.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Jefferies Financial Group reduced their price target on shares of Atlassian from $400.00 to $330.00 and set a "buy" rating for the company in a research report on Monday. JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Finally, Cantor Fitzgerald boosted their target price on Atlassian from $264.00 to $304.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and a consensus target price of $314.73.

Atlassian Price Performance

Shares of Atlassian stock traded down $5.78 during trading on Monday, reaching $212.21. The company's stock had a trading volume of 2,397,572 shares, compared to its average volume of 1,978,401. The business has a 50 day moving average price of $269.28 and a 200-day moving average price of $239.11. The company has a market capitalization of $55.60 billion, a P/E ratio of -158.36 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Atlassian Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.